Look, a pay freeze is good move. It's better than mass layoffs. Besides, if the economy continues to improve, the pay freeze won't matter much as long as we don't hit an inflationary period.
Right lesson, wrong time. After the economy recovers, sure, by all means freeze federal pay for a few years. But doing it now is just crazy. We want people to spend MORE, not less, in order to get the economy to recover. Why is it that we have been running massive deficits for a decade, and people suddenly start caring about it at the worst possible moment, when unemployment is over 9%?
Anyway, I agree with those who say that it's a drop in the bucket. It's not going to put much of a dent in the deficit. I'm more concerned about the short-term consequences of this.
Are you coming to bed?
I can't. This is important.
Someone is WRONG on the internet! -XKCD
Before anyone applauds any of this...can ANYONE point to the part where government is required now to spend 5 billion dollars (the amount they expect to 'save') less and guarantee we dont have an annual budget deficit next year?
No one ever provided the detail on which they based the news story that fed employees make two or three times as much as private counterparts. Does anyone really believe that such a claim could possibly be true? Two to three times, and we're only finding out now? And no one questions it, they just run around saying govt employees make galactically large salaries. Civil servant pay is a highly managed systems, not like California city councilmen.
"He who does not think himself worth saving from poverty and ignorance by his own efforts, will hardly be thought worth the efforts of anybody else." -- Frederick Douglass, Self-Made Men (1872)